Bouygues Offshore: Caspian Sea, Azerbaijan: Fabrication of Offshore Structures for the AIOC Consortium.Business Editors MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--Sept. 5, 2001 Bouygues Offshore (NYSE NYSE See: New York Stock Exchange :BWG) (PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. :BOS.) was granted on July 11 an interim award by the Azerbaijan International Operating Company Azerbaijan International Operating Company is a consortium of currently 10 petroleum companies that have signed extraction contracts with Azerbaijan. These companies include:[1]
The EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 170 million contract, expected to be signed within three months, covers the fabrication and the loading of two jackets and associated piles, with a total weight of approximately 45,000t. The structures will be built at the Baku yard of SPS, a subsidiary of State Oil Company of Azerbaijan Republic The State Oil Company of Azerbaijan Republic (SOCAR) and its many subsidiaries are responsible for the production of oil and natural gas in Azerbaijan, for operation of the country's two refineries, for running the country's pipeline system, and for managing the country's oil and (SOCAR SOCAR State Oil Company of Azerbaijan Republic SOCAR Shuttle Operational Capability Assessment Report ) after the refurbishment of the yard. The project is expected to take over three years from the contract signing date. Commenting on this interim award, Herve Le Bouc, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bouygues Offshore, stated: "This success is based on our technical expertise, marketing approach and strong local presence. This contract will be executed within Phase-1 of Full Field Development of the Azeri, Chirag and Gunashli fields, and bodes well for the Company's future in Azerbaijan, a high potential market."
The 10 members of the AIOC Consortium are:
-BP 34.0% - TPAO 6.8%
-Unocal 10.3% - Devon Energy 5.6%
-SOCAR 10.0% - ITOCHU 3.9%
-LUKoil 10.0% - Statoil 8.6%
-ExxonMobil 8.0% - Delta Hess 2.7%
From design engineering to start-up and maintenance, Bouygues Offshore provides its customers with turnkey projects in offshore-onshore oil and gas contracting, liquefied gases, maritime and river works and chemicals-refining/energy-industry. Driven by a strong commitment to the energy industry, an on-the-spot presence and a team of talented professionals, we deliver solutions that are safe, innovative and promote the success of our clients and our Company. Further information on the company can be found on line at www.bouygues-offshore.com. |
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